Short Interest in NewtekOne, Inc. (NASDAQ:NEWT) Expands By 21.5%

NewtekOne, Inc. (NASDAQ:NEWT) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,810,000 shares, an increase of 21.5% from the March 31st total of 1,490,000 shares. Currently, 7.4% of the company’s stock are short sold. Based on an average daily volume of 224,100 shares, the days-to-cover ratio is presently 8.1 days.

Institutional Investors Weigh In On NewtekOne

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in shares of NewtekOne by 285.2% in the 3rd quarter. Barclays PLC now owns 30,201 shares of the business services provider’s stock valued at $376,000 after acquiring an additional 22,360 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of NewtekOne by 94.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,120 shares of the business services provider’s stock worth $425,000 after purchasing an additional 16,596 shares during the last quarter. Bailard Inc. bought a new stake in shares of NewtekOne during the 4th quarter worth approximately $257,000. American Century Companies Inc. boosted its holdings in shares of NewtekOne by 116.6% in the 4th quarter. American Century Companies Inc. now owns 112,400 shares of the business services provider’s stock valued at $1,435,000 after buying an additional 60,518 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of NewtekOne in the fourth quarter valued at $432,000. 38.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Compass Point boosted their price objective on NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.50.

NewtekOne Stock Performance

NEWT opened at $10.58 on Monday. The company has a market capitalization of $278.16 million, a price-to-earnings ratio of 5.91 and a beta of 1.23. The business’s 50-day moving average price is $11.38 and its two-hundred day moving average price is $12.67. NewtekOne has a 1 year low of $9.12 and a 1 year high of $15.49. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Wednesday, February 26th. The business services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The firm had revenue of $75.37 million for the quarter, compared to analysts’ expectations of $69.55 million. Equities analysts expect that NewtekOne will post 1.93 EPS for the current fiscal year.

NewtekOne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 7.18%. The ex-dividend date was Tuesday, April 15th. NewtekOne’s payout ratio is 38.97%.

NewtekOne Company Profile

NewtekOne, Inc operates as the bank holding company for Newtek Bank, National Association that engages in the provision of various business and financial solutions under the Newtek brand name to the small- and medium-sized business market. The company accepts demand, savings, NOW, money market, and time deposits; and provides loans including SBA loans, commercial and industrial loans, and commercial real estate loans.